ST. CHARLES – A four-story residential building is being proposed on one of the remaining lots in the First Street redevelopment project in downtown St. Charles.
Aldermen on the St. Charles City Council's Government Operations Committee will review the plans at their meeting on Tuesday. R&B Development, LLC, comprised of Bob Rasmussen and Rick Dahl, propose to build a 21-unit rental building on the city-owned grassy lot just east of Blue Goose Market along First Street.
The building would comprise of 21 rental residential units – 6 two-bedroom units and 15 one-bedroom units along with ground-level parking containing 19 parking spaces. Rasmussen has been involved in the First Street redevelopment project over the years.
Rasmussen and Dahl previously worked together on the Heritage Green project, which included renovation of the Judd Mansion and completion of the surrounding townhomes, according to a city memo.
The First Street redevelopment project is nearing completion. Earlier this month, aldermen unanimously voted to purchase the former Manor Restaurant site in downtown St. Charles for $1 million in order to expand the 1st Street East Plaza.
As City Administrator Mark Koenen told aldermen, the expansion of the 1st Street East Plaza project is being funded in part with the financial support from Exelon, which is providing $600,000 toward the project.